EC2106F08PS12 - Name: _ Class: _ Date: _ ID: A Practice...

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Name: ________________________ Class: ___________________ Date: __________ ID: A 1 Practice Problem for Ch12 Multiple Choice Identify the choice that best completes the statement or answers the question. ____ 1. From the time of Benjamin Franklin to the present, the percentage of the average American’s income that goes to pay taxes a. has decreased from about 20 percent to about 10 percent. b. has remained constant at about 10 percent. c. has risen from less than 2 percent to about 44.4 percent. d. has risen from less than 5 percent to about 33.3 percent. ____ 2. The largest source of income for the federal government is a. individual income taxes. b. corporate taxes. c. tariffs. d. “sin” taxes on alcohol and cigarettes. ____ 3. The U.S. federal government finances budget deficits by a. selling stock, much like a corporation. b. printing additional currency. c. borrowing from the public. d.
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EC2106F08PS12 - Name: _ Class: _ Date: _ ID: A Practice...

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